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(Photo by Dario Cantatore/Getty Images)

Don't look now, but stocks are once again aiming for a weekly close at their best levels since the fall of 2007.

A morning rally Friday put the Dow Jones industrial average back above the 14,000 mark, up 66 points to 14,010. The S&P 500 climbed 8 points to 1,518, while the Nasdaq posted a 28-point gain to 3,193.

The gains came to cap off a week that started in rocky fashion, as the Dow suffered its first triple-digit loss of 2013 Monday.

New York is already being blanketed by a winter storm expected to wreak havoc on travel in the Northeast. Winter Storm Nemo, which has already caused hundreds of flight cancellations and numerous school closures, did little to dampen the mood on Wall Street though.

Trade data sparked the early rally. Chinese exports were up 25%, and imports up 29%, while the U.S. trade deficit narrowed. The domestic news -- the deficit fell more than expected to $38.5 billion -- came as imports declined and exports picked up, signaling that perhaps the government's initially dour read on fourth-quarter growth of just 0.1% will be revised higher later this month.

The morning gains were broad based, with utilities the only S&P 500 sector in the red, and narrowly at that. Advances outnumbered declines almost 4-to-1.

The 500-stock S&P's best performer was Microchip Technologies, up 8.9% after reporting profits and revenue that topped estimates Thursday.

LinkedIn shot up 18.6%, after earnings came in at nearly double the Street's expectations. Jim Cramer suggesting Facebook should buy the career-focused social network didn't hurt either.

McDonald's managed a 0.8% gain, even after the company reported a decline in sales growth across all its regions for January. Company-wide, same-store sales were down 1.9% for the month, versus a 6.7% increase a year earlier.

Boeing was the worst performer in the Dow, off 1%. According to TradeTheNews.com, Norwegian Air says it was told by the aircraft maker that the delivery schedule for its 787 Dreamliners may be at risk. The 787s are currently grounded worldwide as regulators examine issues that caused malfunctions in some of the aircraft.

Another laggard Friday was Moody's. The credit rating agency recorded a 66% jump in profit, but shares fell 4% on a Reuters report that the Department of Justice and state attorneys general are weighing a fraud lawsuit against the company that would mirror one brought earlier this week against rival Standard & Poor's.